Authority: IC 25-2.1

Affected: IC 25-2.1-5-8

Sec. 7. (a) A PROC shall be appointed or adopted by the board to monitor the board approved peer review program, including sponsoring organizations' administering entities. The PROC, or the board's designee, shall report to the board, at least annually, on the conclusions and recommendations reached as a result of the PROC's activities.

(b) The oversight committee shall:

1. (1) consist of three (3) licensees who have an active certificate as a CPA or PA;
2. (2) be composed of individuals who are not members of the board;
3. (3) be required to sign a confidentiality agreement indicating they will not divulge any information to the board that would identify any firm, licensee, or peer reviewer/reviewing firms as a result of their monitoring of the peer review process, except for publicly available information or information included in the Facilitated State Board Access;
4. (4) along with the board, establish procedures designed to ensure confidentiality of documents furnished or generated during the review;
5. (5) not include individuals who have a conflict of interest, including employees, consultants, volunteers, or others who work for regulatory, governmental bodies, including state boards of accountancy and entities with enforcement authority;

6. (6) perform procedures that may consist of, but are not limited to:

   1. (A) visiting the administering entities of the approved peer review program;
   2. (B) reviewing sponsoring organization procedures for administering the program;
   3. (C) meeting with an administering entity's report acceptance body during consideration of the peer review documents; and
   4. (D) reviewing the administering entity's compliance with its program;
7. (7) carry out other duties as delegated by the board as necessary for the administration and enforcement of this rule; and
8. (8) be subject to removal or replacement by the board at its discretion.

(c) An appointment under this section is for a term of three (3) years, but an appointment to fill a vacancy is for the remainder of the unexpired term. A committee member may continue to serve until the member's successor is appointed and qualified. An oversight committee member may be reappointed at the end of each term.

(Indiana Board of Accountancy; 872 IAC 1-6-7; filed Oct 13, 2004, 11:30 a.m.: 28 IR 966; filed Dec 5, 2008, 10:29 a.m.: 20081231-IR-872070306FRA; readopted filed Nov 12, 2010, 10:07 a.m.: 20101208-IR-872100410RFA; filed Jan 2, 2013, 3:43 p.m.: 20130130-IR-872120264FRA; readopted filed Nov 26, 2019, 3:48 p.m.: 20191225-IR-872190191RFA; readopted filed Jan 12, 2024, 11:32 a.m.: 20240207-IR-872230761RFA; filed Mar 21, 2025, 12:35 p.m.: 20250416-IR-872240481FRA)